Pigs Retreat on Wednesday
The Lean Hog market is facing a challenging period, with hog prices continuing to decline as the peak grilling season comes to an end.
According to the latest reports, the loin and but primals were the only reported pork primals to increase, but overall, hog prices have been on a downward trend. For instance, Oct 25 Hogs closed at $97.325, down $0.050, and Dec 25 Hogs closed at $87.650, down $0.575. Similarly, Feb 25 Hogs closed at $89.700, down $0.500.
The CME Lean Hog Index decreased by 14 cents on September 15, to $106.00, and USDA's FOB plant pork cutout report for Wednesday decreased by $1.30, to $110.98 per cwt.
This week, the total federally inspected hog slaughter is 1.464 million head, which is 31,734 head above the same week last year. The national base hog report for Wednesday increased by 42 cents, reaching $106.71.
The article raises the question of whether burgers and BLTs can save the day for the Lean Hog market. As the demand for pork products traditionally decreases during the autumn and winter months, the industry is closely watching the stock market today to gauge whether Lean Hog Futures will rally or fall.
It is important to note that the article does not provide any specific information about the CME Lean Hog Index, USDA's national base hog report, or USDA's FOB plant pork cutout report. Additionally, the article does not provide any information about federally inspected hog slaughter or hog prices in the previous days, nor does it discuss the impact of the decreasing hog prices on the food industry or consumers.
The article includes a Disclosure Policy that can be found on the website. As of the publication date, Austin Schroeder had no positions in any of the securities mentioned in the article. Yoshio Tomiie, whose name is mentioned in the article, was also reported to have no positions in the mentioned stocks on the day of publication.
The potential for Lean Hog Futures to rally or fall will be a topic of interest in the coming weeks as the industry navigates the changing stock market conditions.
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